TechFlow, July 2 — According to Finance Feeds, Zodia Custody, a digital asset custody service provider, has completed the acquisition of Tungsten Custody Solutions, a UAE-based digital asset custodian.
Through this transaction, Zodia Custody has obtained a license from the Financial Services Regulatory Authority under the Abu Dhabi Global Market framework, as well as preliminary approval from the Dubai Virtual Assets Regulatory Authority, and will continue advancing toward securing a full Virtual Asset Service Provider license.
Tungsten Custody was incubated by Further Ventures, an Abu Dhabi-based digital asset investment firm. As part of the deal, Further Ventures will join Zodia Custody’s shareholder roster and continue providing regional network access and regulatory expertise.
Zodia Custody’s investors include institutional players such as SC Ventures, Emirates NBD, Northern Trust, SBI Holdings, and National Australia Bank Ventures.
